2.37% Dividend Yield: 2nd Interim Dividend of Rs 1, 21st December Record Date; Time To Buy The Stock?

In Southern India, Steel City Securities Limited has been at the forefront of retail stockbroking since 1995. Additionally, the company operates in Maharashtra (Mumbai), Tamil Nadu, Karnataka, Orissa, and Chattisgarh. Steel City is a member of the national stock, derivative, commodity, and currency exchanges, including the NSE, BSE, MCX, NCDEX, and MCX-SX. PFRDA recognises it as POP for the promotion of pension schemes in India. In addition to serving as a depository participant for NSDL and CDSL, the firm offers a trading platform for the Capital Market, Futures & Options, Commodities, and Currency Derivatives of NSE, BSE, MCX, MSE, and NCDEX.

Steel City Securities Dividend

The Board of Directors "Considered and declared 2nd Interim Dividend for the Financial Year 2024-25 @ 10% i.e., Re. 1/-for every Equity Share of Rs 10/-each. Fixed 21st December, 2024 as record date to ascertain the Shareholders who are eligible for the lnterim Dividend," said the company in a stock exchange filing.

Since March 21, 2017, Steel City Securities Ltd. has announced 23 dividends. Steel City Securities Ltd. announced an equity dividend of Rs 3.00 per share in the last 12 months according to Trendlyne. The dividend yield of Steel City Securities Ltd. is 2.37% at the current share price of Rs 126.46.

Steel City Securities Financials

In the September 2024 quarter, the company's net sales were Rs 18.53 crore, rising 21.42% from Rs 15.26 crore in the September 2023 quarter. In Q2FY25, its net profit was Rs. 5.14 crore, growing 109.05% from Q2FY24's Rs. 2.46 crore. From Rs. 3.85 crore in the September 2023 quarter to Rs. 7.04 crore in the September 2024 quarter, EBITDA increased by 82.86%.

Steel City Securities Share Price Target

"Steel City Securities stock price is bullish but also slightly overbought on the Daily charts with next resistance at 140. Investors should be booking profits as a Daily close below support of 119 could lead to 100 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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